3,784 Shares in Ingersoll Rand Inc. (NYSE:IR) Purchased by Simplicity Wealth LLC

Simplicity Wealth LLC purchased a new position in shares of Ingersoll Rand Inc. (NYSE:IR - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,784 shares of the industrial products company's stock, valued at approximately $303,000.

Several other institutional investors and hedge funds also recently made changes to their positions in IR. Global Wealth Strategies & Associates grew its stake in Ingersoll Rand by 325.0% in the first quarter. Global Wealth Strategies & Associates now owns 374 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 286 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in Ingersoll Rand in the 4th quarter valued at $36,000. OFI Invest Asset Management bought a new position in Ingersoll Rand during the fourth quarter worth about $38,000. Lee Danner & Bass Inc. acquired a new stake in shares of Ingersoll Rand in the fourth quarter valued at approximately $42,000. Finally, Ancora Advisors LLC lifted its position in shares of Ingersoll Rand by 144.8% during the 4th quarter. Ancora Advisors LLC now owns 497 shares of the industrial products company's stock valued at $45,000 after acquiring an additional 294 shares during the period. Institutional investors and hedge funds own 95.27% of the company's stock.

Ingersoll Rand Stock Performance

Ingersoll Rand stock traded down $2.08 during trading on Friday, hitting $80.44. The stock had a trading volume of 2,209,657 shares, compared to its average volume of 2,572,502. Ingersoll Rand Inc. has a 1 year low of $65.61 and a 1 year high of $106.03. The company has a quick ratio of 1.71, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. The stock's 50 day moving average is $78.00 and its two-hundred day moving average is $85.63. The stock has a market cap of $32.45 billion, a price-to-earnings ratio of 39.05, a price-to-earnings-growth ratio of 3.50 and a beta of 1.44.

Ingersoll Rand (NYSE:IR - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.72 earnings per share for the quarter, missing analysts' consensus estimates of $0.74 by ($0.02). The business had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.73 billion. Ingersoll Rand had a net margin of 11.59% and a return on equity of 12.78%. The firm's quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.78 earnings per share. As a group, analysts predict that Ingersoll Rand Inc. will post 3.32 EPS for the current year.

Ingersoll Rand announced that its Board of Directors has authorized a share buyback program on Thursday, May 1st that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 3.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its shares are undervalued.

Ingersoll Rand Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 15th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date was Thursday, May 15th. Ingersoll Rand's dividend payout ratio is currently 3.96%.

Insider Activity at Ingersoll Rand

In related news, insider Vicente Reynal sold 38,657 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $83.03, for a total transaction of $3,209,690.71. Following the transaction, the insider now owns 193,186 shares in the company, valued at $16,040,233.58. The trade was a 16.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Elizabeth Meloy Hepding sold 3,500 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $83.78, for a total value of $293,230.00. Following the completion of the transaction, the insider now directly owns 10,986 shares of the company's stock, valued at $920,407.08. This represents a 24.16% decrease in their position. The disclosure for this sale can be found here. 0.59% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Citigroup increased their price target on shares of Ingersoll Rand from $88.00 to $91.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Wells Fargo & Company raised their price objective on shares of Ingersoll Rand from $80.00 to $86.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Stifel Nicolaus reduced their price objective on shares of Ingersoll Rand from $94.00 to $77.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Robert W. Baird boosted their price target on Ingersoll Rand from $105.00 to $111.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Finally, Barclays decreased their target price on Ingersoll Rand from $93.00 to $85.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Ingersoll Rand presently has a consensus rating of "Moderate Buy" and an average price target of $98.91.

Ingersoll Rand Profile

Ingersoll Rand Inc provides various mission-critical air, gas, liquid, and solid flow creation technologies services and solutions worldwide. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies. The Industrial Technologies and Services segment designs, manufactures, markets, and services air and gas compression, vacuum, and blower products; fluid transfer equipment and loading systems; and power tools and lifting equipment, including associated aftermarket parts, consumables, air treatment equipment, controls, other accessories, and services under the under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle brands, etc.